Team says it won't enter budget capped series in 2010
12 May 2009

Ferrari has confirmed that it will not enter next year's world championship unless plans for a voluntary £40 million budget cap are changed.

Although the team has expressed private reservations about the rule changes and governing processes for 2010, it finally confirmed its intentions in a statement issued following a board meeting at Maranello on Tuesday afternoon.

Andrew Frankel's blog on Ferrari's importance to F1 here

Read Steve Sutcliffe's blog on Ferrari's threat here

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"The same rules for all teams, stability of regulations, the continuity of the FOTA's endeavours to methodically and progressively reduce costs, and governance of Formula 1 are the priorities for the future," said the statement.

"If these indispensable principles are not respected and if the regulations adopted for 2010 will not change, then Ferrari does not intend to enter its cars in the next Formula 1 World Championship."

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